KBC Group NV Sells 22,057 Shares of Elevance Health, Inc. (NYSE:ELV)

KBC Group NV trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 275,555 shares of the company’s stock after selling 22,057 shares during the quarter. KBC Group NV owned about 0.12% of Elevance Health worth $143,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Bank & Trust Co bought a new stake in Elevance Health in the 2nd quarter valued at $27,000. PSI Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health during the second quarter worth about $28,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health during the second quarter valued at approximately $30,000. Finally, Eastern Bank bought a new stake in shares of Elevance Health in the 3rd quarter valued at $31,000. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Down 0.5 %

NYSE:ELV opened at $410.89 on Thursday. The firm has a market cap of $95.29 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a 50-day simple moving average of $483.60 and a two-hundred day simple moving average of $516.04.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter last year, the business earned $8.99 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Morgan Stanley dropped their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company cut their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Cantor Fitzgerald decreased their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.